TechFlow, Messari has released Algorand's Q4 2023 status report, showing its market cap increased by 123% quarter-on-quarter.
Algorand added 1.9 million new addresses in Q4 2023, a 72% increase from the previous quarter.
Transaction volume on Algorand rose 58% quarter-on-quarter, primarily driven by a 43% growth in native ALGO transaction volume.
The xGov grant program continued in Q4, with xGov participants approving 18 grant applications totaling 1.5 million ALGO ($332,000).
Algorand’s DeFi TVL surged 109% quarter-on-quarter, recovering from Algofi’s shutdown in the prior quarter and reaching its second-highest level since last year.
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